Fitchâ€™s ratings are analystsâ€™ views of future performance which may be informed by non-disclosable management projections, sector or wider economic cycle at a certain stage in the cycle, or may be based on historical performance.

According to Fitch, Rwandaâ€™s stable economy is due to a drop in donor grants and government pursuing sensible economic policies, strong growth performance and a modest fall in countryâ€™s external position.

On Friday Fitch ratings affirmed Rwandaâ€™s Long-term foreign and local currency Issuer Default Ratings (IDR) at â€˜B+ indicating that the Outlooks are Stable.

Kenya is rated with B+ while Tanzania and Uganda are rated B.

Rwandaâ€™s unsecured foreign and local currency bonds have also been affirmed at B+. The Country Ceiling has been affirmed at â€˜B+â€™ and the Short-term foreign currency IDR at â€˜Bâ€™.

Fitch estimates Rwanda experienced a 6.8% GDP growth in 2014 and was supported by a recovery in the agriculture sector and accommodative monetary and fiscal policies.